Tyro said its bank had started to lift off, with one-in-four of its new payment terminal customers also signing up for a bank account, as it plans to offer more cash-flow lending a decade after the prudential regulator gave it a banking licence.

The number of active Tyro bank accounts grew 34 per cent over the first half to 9000, representing 12 per cent of its total customers. Deposit balances remain small, growing by 5 per cent to $84.1 million.